TipRanks has compiled a list of Tuesday’s biggest pre-market stock movements.
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Company-specific news, earnings releases, and other variables seem to have dominated today’s market. Using TipRanks’ new Top Stock Gainers/Losers page, we’ve identified the top five pre-market stock movers, as detailed below.
5 Biggest Movers
Trip.com Group Limited (TCOM), the Chinese travel services company, was the biggest gainer in pre-market trading, recording gains of 16.32% at the time of writing. Positive sentiment followed the company’s upbeat results in the first quarter of 2022, beating both earnings and revenue expectations. A recovery in overseas travel demand, particularly across Europe and the Asia Pacific, drove the results. However, the COVID-19 resurgence in China negatively impacted results.
Playtika Holding Corp. (PLTK) gained 11.54% in pre-market trading, at the last check. The company engaged in the gaming business soared on the news that the private equity firm Joffre Capital is acquiring a stake in Playtika at $21 per share.
Huazhu Group Limited (HTHT) surged 10.23% in pre-market trading at last glance. There is no fundamental news explaining the trading frenzy for the operator of hotels in China.
Melco Resorts & Entertainment Limited (MLCO) jumped 9.71% in pre-market trading at the time of writing. Institutional investor Redpoint Investment Management Pty Ltd. purchased a new position in the company during the first quarter. It bought 28,704 shares of the company’s stock, worth $219,000. The disclosure of the purchase seems to have driven positive sentiment.
Vonage Holdings Corp. (VG) completes the list. The business cloud communications provider gained 9.44% in pre-market trading at the time of writing. Reuters recently reported that Vonage’s acquisition by Sweden-based Ericsson (ERIC) has been delayed to the end of July from the first half of the year. The telecom equipment maker inked an all-cash deal valued at $6.2 billion in November to acquire Vonage.
Continue to watch this space for possible volatility upon the market open. Tomorrow, we’ll have another up-to-date piece on stock Pre-Market Movers…
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